Coronary Stent Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 7.41 Billion |
| Market Size (2029) | USD 9.13 Billion |
| CAGR (2024 - 2029) | 4.25 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Coronary Stent Market Analysis
The Coronary Stent Market size is estimated at USD 7.41 billion in 2024, and is expected to reach USD 9.13 billion by 2029, at a CAGR of 4.25% during the forecast period (2024-2029).
The coronary stent market is undergoing substantial growth, driven by several converging trends in the global healthcare landscape. The rising prevalence of cardiovascular diseases, combined with an aging global population and rapid advancements in cardiac stent technology, is fueling the demand for coronary stents. These factors are cultivating a conducive environment for market expansion, with specific drivers playing essential roles in shaping the industry's path forward.
Increasing Prevalence of Coronary Artery Diseases (CADs): The growing incidence of coronary artery diseases is a central factor in the expansion of the coronary stent market. As per the Centers for Disease Control and Prevention, approximately 20.1 million adults aged 20 and older in the U.S. suffer from coronary artery disease, accounting for 7.2% of the population. Globally, the World Heart Federation estimates that cardiovascular diseases, including heart disease and stroke, cause nearly 18.6 million deaths annually. This rising burden of CADs is translating directly into a greater demand for interventional cardiology devices like coronary stents, which are vital in addressing blocked or narrowed arteries.
Rising Geriatric Population: The global shift towards an aging population is also significantly influencing the coronary stent market. According to the United Nations' World Population Ageing report, the global geriatric population (aged 65 years or older) is projected to reach 1.5 billion by 2050, constituting 16% of the world鈥檚 population. As older individuals are more prone to cardiovascular diseases, this demographic shift is expected to boost demand for coronary artery disease treatments. In the Asia-Pacific region, one-fourth of the population is expected to be 60 years or older by 2050, amplifying the demand for coronary stent market growth in this region.
Technological Advancements in Coronary Stents: The evolution of cardiac stent technology is playing a pivotal role in market growth. Recent innovations, such as bioresorbable stents and advanced drug-eluting stents (DES), are driving better patient outcomes. Medtronic鈥檚 FDA-approved Onyx Frontier DES and SINOMED's HT Supreme DES highlight the ongoing strides in stent delivery and post-procedural safety. These advances not only improve the efficacy of coronary stents but also widen their applicability, including in more complex coronary interventions.
Coronary Stent Market Trends
Drug Eluting Stents (DES): Leading the Coronary Intervention Revolution Segment
Drug-eluting stents (DES) have solidified their position as a key player in coronary interventions, representing approximately 67% of the global coronary stent market. DES integrates structural support with the controlled release of medications to address restenosis. This innovative approach has become indispensable in modern cardiovascular care, resulting in fewer repeat procedures and enhanced patient outcomes.
Growth Drivers and Future Outlook: The growth of the DES segment is propelled by the increasing prevalence of coronary artery diseases, particularly among the elderly population. Advancements in drug-eluting stent technology and stent materials have significantly improved their safety and efficacy. Moreover, the ongoing shift towards minimally invasive procedures over open-heart surgeries is further driving the demand for DES. With research focusing on improving stent biocompatibility and reducing long-term complications, DES is expected to maintain its market dominance.
Competitive Landscape and Disruptions: In the highly competitive DES market, manufacturers are focusing on innovation. Thin-strut stents, biocompatible polymers, and novel drug combinations are some of the key areas driving competition. A potential disruptor to watch is the rise of bioresorbable stents, which could eventually challenge DES if they deliver comparable results. Companies must stay agile, investing in continuous innovation while preparing for shifts in treatment approaches.
Asia-Pacific: Epicenter of Coronary Stent Market Growth Regional Dynamics:
The Asia-Pacific coronary stent market is poised for rapid growth, with projections of a 9-10% compound annual growth rate (CAGR). This expansion is driven by a confluence of factors including a growing and aging population, rising incidence of cardiovascular diseases, and improvements in healthcare infrastructure.
Catalysts for Expansion: The rising incidence of lifestyle-related risk factors such as obesity, diabetes, and hypertension is contributing to the growth of the coronary stent market in the Asia-Pacific region. Additionally, increased awareness of the early detection and treatment of coronary artery diseases is driving demand for percutaneous coronary interventions (PCI). Government initiatives aimed at improving healthcare access, particularly in China and India, are also playing a vital role. The growth of medical tourism in countries like Thailand and Singapore further boosts the region鈥檚 coronary stent market.
Strategic Imperatives and Future Challenges: To tap into the burgeoning Asia-Pacific coronary stent market, manufacturers are increasingly localizing their production and research activities. Collaboration with local healthcare providers and universities is also key to understanding regional needs and driving innovation. However, challenges such as government-imposed pricing regulations and competition from local manufacturers require companies to remain flexible and responsive to market dynamics.
Coronary Stent Industry Overview
Market Dynamics: Global Leaders in a Consolidated Landscape The global coronary stent market is characterized by a high degree of consolidation, with major players such as Abbott Laboratories, Medtronic, and Boston Scientific Corporation holding significant market share. These companies benefit from robust research and development capabilities, comprehensive product portfolios, and extensive global distribution networks. The market鈥檚 consolidation is largely due to high entry barriers, such as stringent regulatory approvals and significant capital investment requirements.
Key Players: Innovation and Global Reach Drive Success Leading players like Abbott, Medtronic, and Boston Scientific consistently invest in innovation. For instance, Abbott鈥檚 Xience Sierra DES has demonstrated superior outcomes in complex coronary cases. These firms鈥� global manufacturing capabilities and strong relationships with healthcare providers enable them to maintain a competitive edge. Furthermore, their financial strength allows them to engage in strategic acquisitions, further consolidating their market positions.
Strategies for Future Success: To achieve continued success, leading market players must focus on developing next-generation stents that reduce procedural complications and improve long-term outcomes. The rise of bioresorbable stents is one such area showing promise in addressing long-term challenges. Additionally, expanding into emerging markets and investing in digital healthcare solutions, such as remote monitoring, can offer new growth opportunities.
Coronary Stent Market Leaders
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Boston Scientific Corporation
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Medtronic Plc
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BIOTRONIK SE & Co. KG
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Biosensors International Group Ltd
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Abbott
*Disclaimer: Major Players sorted in no particular order
Coronary Stent Market News
- August 2024: SMT (Sahajanand Medical Technologies) successfully completed patient enrolment for the Tuxedo 2 clinical trial in India. This pivotal trial seeks to assess the efficacy and safety of the Supraflex Cruz Drug-Eluting Stent (DES) specifically in diabetic patients suffering from multivessel coronary artery disease (CAD).
- May 2024: Abbott launched its XIENCE Sierra Everolimus Eluting Coronary Stent System in India. As a cutting-edge addition to the XIENCE family, the XIENCE Sierra stent caters to individuals grappling with blocked coronary arteries.
Coronary Stent Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Coronary Artery Diseases (CADs)
4.2.2 Rising Geriatric Population
4.2.3 Technological Advancements in Coronary Stents
4.3 Market Restraints
4.3.1 High Product Recalls
4.3.2 Stringent Approval Process for Stents
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - in USD)
5.1 By Product Type
5.1.1 Drug Eluting Stent
5.1.2 Bare Metal Coronary Stent
5.1.3 Bioabsorbable Stent
5.2 By Biomaterial
5.2.1 Metallic Biomaterial
5.2.2 Polymeric Biomaterial
5.2.3 Natural Biomaterial
5.3 By End User
5.3.1 Hospitals
5.3.2 Ambulatory Surgical Centers
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott
6.1.2 B. Braun SE
6.1.3 Biosensors International Group Ltd
6.1.4 BIOTRONIK SE & Co. KG
6.1.5 Boston Scientific Corporation
6.1.6 Cook Group
6.1.7 Medtronic PLC
6.1.8 Terumo Corporation
6.1.9 Translumina GmbH
6.1.10 Sahajanand Medical Technologies Limited
6.1.11 Lepu Medical Technology (Beijing) Co.,Ltd.
6.1.12 Bilakhia Holdings Pvt Ltd. (Meril Life Sciences)
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Coronary Stent Industry Segmentation
As per the report's scope, coronary stents are small elastic tubes used to treat narrowed and blocked coronary arteries in patients with coronary artery disease (CAD). The stent reduces the symptoms of chest pain (angina) and aids in treating a heart attack. These types of stents are also called heart stents or cardiac stents. They comprise metal mesh and are implanted in constricted coronary arteries during a technique known as percutaneous coronary intervention (PCI) or angioplasty.
The Coronary Stent Market is Segmented by product type, biomaterial, end-users, and geography. By product type, the market is segmented into drug-eluting stents, bare metal coronary stents, and bioabsorbable stents. By biomaterial, the market is segmented into metallic biomaterial, polymeric biomaterial, and natural biomaterial. By end-users, the market is segmented into hospitals and ambulatory surgical centers. By geography, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers the value (USD) for the above segments.
| By Product Type | |
| Drug Eluting Stent | |
| Bare Metal Coronary Stent | |
| Bioabsorbable Stent |
| By Biomaterial | |
| Metallic Biomaterial | |
| Polymeric Biomaterial | |
| Natural Biomaterial |
| By End User | |
| Hospitals | |
| Ambulatory Surgical Centers |
| Geography | ||||||||
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Coronary Stent Market Research FAQs
How big is the Coronary Stent Market?
The Coronary Stent Market size is expected to reach USD 7.41 billion in 2024 and grow at a CAGR of 4.25% to reach USD 9.13 billion by 2029.
What is the current Coronary Stent Market size?
In 2024, the Coronary Stent Market size is expected to reach USD 7.41 billion.
Who are the key players in Coronary Stent Market?
Boston Scientific Corporation, Medtronic Plc, BIOTRONIK SE & Co. KG, Biosensors International Group Ltd and Abbott are the major companies operating in the Coronary Stent Market.
Which is the fastest growing region in Coronary Stent Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Coronary Stent Market?
In 2024, the North America accounts for the largest market share in Coronary Stent Market.
What years does this Coronary Stent Market cover, and what was the market size in 2023?
In 2023, the Coronary Stent Market size was estimated at USD 7.10 billion. The report covers the Coronary Stent Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Coronary Stent Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the emerging technologies shaping the Coronary Stent Market?
The emerging technologies shaping the Coronary Stent Market are a) Next-generation drug delivery systems b) Biocompatible materials c) Potentially robot-assisted procedures
What are the emerging technologies shaping the Coronary Stent Market?
The emerging technologies shaping the Coronary Stent Market are a) Next-generation drug delivery systems b) Biocompatible materials c) Potentially robot-assisted procedures
Coronary Stents Industry Report
The global coronary stent market is on an upward trajectory, driven by technological advancements such as bioresorbable vascular scaffolds and a rising number of procedures demanding minimally invasive surgeries. Amidst challenges like stringent regulations and the presence of alternative treatments, innovations like fully dissolving stents are setting a competitive landscape. North America's market dominance, along with rapid growth in the Asia-Pacific region, underscores the global demand surge for coronary stents. Market dynamics are characterized by strategic developments aimed at meeting increasing healthcare needs, indicating significant market expansion ahead. This growth is supported by data from 糖心vlog传媒鈩�, forecasting promising market prospects and outlining historical trends, reinforcing the sector's robust growth outlook. For detailed insights, 糖心vlog传媒鈩� Industry Reports provide comprehensive analysis, including market share, size, revenue growth rate, and a forecast outlook, available as a free report PDF download.
